SADC Lac-St-Jean Ouest — Acquisition + Loan
QC, Canada
Supports equipment acquisition for businesses operating over three years
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- SADC Lac-St-Jean Ouest
grant_single|status
grant_card_status|open
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The SADC Lac-St-Jean Ouest — Acquisition + Loan offers businesses up to $150,000 to support acquisition projects such as purchasing equipment, buildings, or rolling stock. Eligible businesses must be over three years old and currently profitable, with the loan providing flexible terms for up to 120% financing.
grant_single_labels|terms_and_conditions
This grant offers structured financing modalities to assist businesses in acquiring essential assets without personal guarantees, thereby enhancing their operational capacity. Clear and defined terms ensure streamlined access to necessary resources.
- Maximum loan amount of $150,000 per business, with potential exceptions up to $300,000 subject to certain conditions.
- Interest rate set at the base business rate plus an additional 2%.
- Loan tenure of up to 120 months.
- No requirement for personal guarantees; provision for 1st, or potentially 2nd, rank security with lesser financing.
- Option for additional security measures.
- Permits early repayment up to a maximum of 20% per year.
grant_single_labels|projects
This grant facilitates the acquisition of significant assets necessary for the growth of established businesses. It provides financial support for purchasing equipment, property, or mobile materials essential for business development.
- Acquisition of new equipment.
- Purchase of buildings.
- Procurement of mobile materials and machinery.
grant_single|admissibleProjectsExample
$ 100,000
Develop an urban greenhouse for sustainable agriculture
grant_single_labels|admissibility
Eligibility for the SADC Lac-St-Jean Ouest Acquisition + Loan is determined by certain conditions that applicants must meet.
- The business must have been in operation for more than 3 years.
- The business must be profitable.
grant_eligibility_criteria|who_can_apply
This grant is specifically designed for businesses that have been operational for more than three years and are seeking to acquire new equipment, buildings, or rolling stock. The business must be financially viable, and the funding is targeted at established companies looking to expand their operational capacity.
grant_eligibility_criteria|eligible_expenses
This loan supports specific acquisition expenses to enhance existing businesses.
- Acquisition of new equipment.
- Purchase of buildings for business use.
- Procurement of rolling stock.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Initial Inquiry
- Contact the SADC Lac-St-Jean Ouest office to express interest in the Acquisition + Loan.
- Discuss your acquisition project to determine eligibility and suitability for the loan application.
- Step 2: Gather Required Documentation
- Prepare documentation related to the financial status of your business.
- Ensure all necessary information about the equipment, building, or material intended for acquisition is compiled.
- Step 3: Complete Application Form
- Obtain the official application form from the SADC Lac-St-Jean Ouest.
- Fill out the application with accurate and detailed information about the project.
- Step 4: Submit Application
- Submit the completed application form alongside the gathered documents to the SADC Lac-St-Jean Ouest.
- Confirm submission and inquire about next steps in the review process.
- Step 5: Application Follow-up
- Engage in follow-up communication as advised by the SADC officials.
- Participate in any necessary meetings or discussions to support your application.
grant_single_labels|otherInfo
Here are additional relevant details for this loan:
- The interest rate is the base rate for businesses plus an additional 2%.
- The loan can be amortized over a period of up to 120 months.
- No personal guarantee is required on a first-rank basis, and there is the possibility of a second rank with lesser financing.
- Additional guarantees may be required depending on specific conditions.
- Early repayment is allowed, up to a maximum of 20% per year.
- Personalized assistance and rigorous follow-up are provided by SADC professionals throughout the loan term.
Apply to this program
Supporting Business Acquisition With Flexible Loan Solutions
The SADC Lac-St-Jean Ouest Acquisition+ Loan offers financial assistance to businesses looking to expand through acquiring new equipment, buildings, or vehicles. Targeted at companies that have been operational for over three years, this loan aims to support sustainable growth by providing up to CAD 150,000 without the need for a personal guarantee.
Detailed Overview of the SADC Lac-St-Jean Ouest Acquisition+ Loan
This loan program is specifically tailored to support established businesses in their expansion endeavors by providing a flexible and robust financial lending option. Businesses benefiting from this program can access financing of up to CAD 150,000, with potential extensions under certain exceptional conditions allowing the loan amount to rise to CAD 300,000. The main attraction of this funding opportunity lies in its user-friendly terms, such as the absence of a requirement for a personal guarantee, which can be a significant barrier in conventional financing scenarios.
The loan is structured to accommodate a diverse array of acquisition needs, which include but are not limited to, the purchase of equipment, materials, buildings, or mobile equipment. This financial solution aims to significantly ease the financial burden often associated with business expansion projects, ensuring that enterprises can proceed with confidence in their investment endeavors.
Another defining feature of this funding option is its competitive interest structure which is calculated at the base business rate plus an additional 2%. This ensures that the loan remains accessible and affordable for companies, allowing them to maintain their cash flow and prioritize their financial resources effectively. Moreover, businesses can benefit from a flexible repayment schedule that could extend up to 120 months, providing sufficient time for repayment while minimizing the strain on the company's financial operations.
Despite the attractive nature of the loan terms, some conditions are applied, such as addressing additional guarantees that could be required to secure funding. However, the absence of a compulsory personal guarantee ensures businesses have fewer entry barriers when seeking financial support. Additionally, the provision for early repayment allows businesses to repay up to 20% of the loan annually, which caters to companies aiming to settle their financial obligations ahead of schedule without incurring significant penalties.
As businesses navigate the complexities of expansion, the SADC Lac-St-Jean Ouest offers not just financial assistance but also considerable support through personalized guidance and development oversight. This ensures that enterprises are not only funded but are also strategically positioned for growth, with ongoing support directed by experienced professionals who can tailor advice to the specific challenges and opportunities encountered by businesses during their expansion journey.
This blend of financial and strategic support makes the SADC Lac-St-Jean Ouest Acquisition+ Loan an invaluable resource for businesses that are poised for growth and looking to invest in tangible assets that can yield long-term benefits. By bridging the gap between potential and actual success, this loan facilitates business longevity and competitive advantage in the marketplace.
